Secureworks (SCWX) Cut to Sell at BidaskClub

BidaskClub downgraded shares of Secureworks (NASDAQ:SCWX) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other research analysts have also recently commented on SCWX. Zacks Investment Research cut Secureworks from a buy rating to a hold rating in a research report on Wednesday, December 13th. KeyCorp reaffirmed a buy rating and set a $13.00 price target on shares of Secureworks in a research report on Thursday, December 7th. JPMorgan Chase & Co. cut Secureworks from an overweight rating to a neutral rating and set a $12.00 price target on the stock. in a research report on Wednesday, December 6th. Finally, Royal Bank of Canada reaffirmed a buy rating on shares of Secureworks in a research report on Friday, December 8th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $12.95.

Secureworks (SCWX) opened at $9.43 on Friday. Secureworks has a 1 year low of $8.10 and a 1 year high of $12.99. The firm has a market capitalization of $764.56 and a price-to-earnings ratio of -16.84.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, December 6th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Secureworks had a negative return on equity of 3.95% and a negative net margin of 9.60%. The firm had revenue of $117.53 million for the quarter, compared to analysts’ expectations of $115.67 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. analysts anticipate that Secureworks will post -0.43 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Secureworks during the 3rd quarter valued at $111,000. Teachers Advisors LLC raised its stake in shares of Secureworks by 32.2% during the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,135 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Secureworks by 8.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock valued at $129,000 after purchasing an additional 1,022 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Secureworks during the 1st quarter valued at $133,000. Finally, California State Teachers Retirement System raised its stake in shares of Secureworks by 15.3% during the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock valued at $133,000 after purchasing an additional 1,900 shares during the period. Institutional investors own 7.96% of the company’s stock.

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Secureworks Company Profile

Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.

Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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